Remittances between Spain and Colombia were noticeably more expensive when using bank account transfers than other payment instruments available. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Colombia, but then specifically sent from Spain. Remitting from Spain towards Colombia incurred an average cost of roughly 6.3 percent over the course of 2023. Spain ranked as Colombia's third-most likely country of origin of remittances during the same year.
Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument
Characteristic
Costs of sending 200 U.S. dollars to this country, as proportion of remittance value received
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World Bank (Remittance Prices Worldwide), & FXC Intelligence, & Statista. (January 11, 2024). Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/
World Bank (Remittance Prices Worldwide), und FXC Intelligence, und Statista. "Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument." Chart. January 11, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/
World Bank (Remittance Prices Worldwide), FXC Intelligence, Statista. (2024). Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/
World Bank (Remittance Prices Worldwide), and FXC Intelligence, and Statista. "Total Average Cost of Sending 200 U.S. Dollars worth of Remittances between Spain and Colombia as of 3rd Quarter of 2023, by Remittance Instrument." Statista, Statista Inc., 11 Jan 2024, https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/
World Bank (Remittance Prices Worldwide) & FXC Intelligence & Statista, Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument Statista, https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/ (last visited July 22, 2024)
Total average cost of sending 200 U.S. dollars worth of remittances between Spain and Colombia as of 3rd quarter of 2023, by remittance instrument [Graph], World Bank (Remittance Prices Worldwide), & FXC Intelligence, & Statista, January 11, 2024. [Online]. Available: https://www.statista.com/statistics/1455145/cost-sending-low-value-remittances-spain-to-colombia-by-brand/